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Dec 31, 2012
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>> no way. >> jeff? >> absolutely not. >> your honor, i rest my case. happy new year, guys. >> happy new year, bill. >> thanks very much. >>> we're still sitting up by nearly 100 points on the dow. president obama earlier on today saying it does appear a deal on the fiscal cliff is nearing. it is within sight. obviously a bit of work still to be done here. even mitch mcconnell says we are very, very close. so the markets have moved up on that hope we will get a done deal and avert the fiscal cliff. >>> positioning portfolios for the new year, i can majs is tricky right now. there's a lot of mess going on in d.c. we're going to help. we're going to give you the single best play for 2013. >>> and also next, two congressman, one democrat one republican. they're going to talk to us about the fiscal cliff. are they happy or sad? and can they rise above to get a deal done? "closing bell" will be back after this break. tdd#: 1-800-345-2550 when i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform
>> no way. >> jeff? >> absolutely not. >> your honor, i rest my case. happy new year, guys. >> happy new year, bill. >> thanks very much. >>> we're still sitting up by nearly 100 points on the dow. president obama earlier on today saying it does appear a deal on the fiscal cliff is nearing. it is within sight. obviously a bit of work still to be done here. even mitch mcconnell says we are very, very close. so the markets have moved up on that hope we...
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Dec 27, 2012
12/12
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with us cnbc's jeff cox and kathy jones from charles schwab. waiting to see what the ten-year note is doing. it's come back sharply now with the buying of stocks here. i mean, there is this either/or going on right now, safety vers versus risks, right? >> doing this all year long, news about the economy or settlement of the fiscal cliff issue, the bond market sells off a little bit and the market rallies. here we are again. hope springs eternal. >> let's say we get a deal in the near term, some sort of a framework deal. does that mean we'll see rates on the treasury yield curve rise appreciably, in other words, we'll sell off on the bond market. >> the initial reaction will be relief and risk assets, selloff in treasuries, and keep in mind any deal that we get is probably going to mean more austerity, not less, higher taxes and less spending in 2013 and 2014, and ultimately that's good for the bond market. it's not a bad thing for the bond market. >> do you agree, jeff cox? >> i agree with the notion that, of course, we're at mercy of the fisca
with us cnbc's jeff cox and kathy jones from charles schwab. waiting to see what the ten-year note is doing. it's come back sharply now with the buying of stocks here. i mean, there is this either/or going on right now, safety vers versus risks, right? >> doing this all year long, news about the economy or settlement of the fiscal cliff issue, the bond market sells off a little bit and the market rallies. here we are again. hope springs eternal. >> let's say we get a deal in the...
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Dec 13, 2012
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>> what do you think, jeff cox? >> the fed told you everything they want to know as far as their thinking towards the fiscal cliff negotiations. they have said, threw down the gauntlet, we're going to be here. the global u.s., the economy is of the fed, by the fed, for the fed. we have now $65 trillion worth of global assets tied up at zero interest economies. what's that doing for economies? they are looking for yield, junk bond issuance at its highest level ever by allotted, so you're seeing -- that's where this trade is going to keep going. investors setting themselves up for a lot of trouble. the third thing is now basically investors are at sea. what do you do? i'll tell you a very telling story. bank of america 2013 outlook. they are super bullish and hung a 1600 on the s&p next year and said the biggest downside risk improvement in the u.s. economy because that might get the fed to scale back. that's how you show how dependant we are and what little confidence they have of what's going on in washington. >> do
>> what do you think, jeff cox? >> the fed told you everything they want to know as far as their thinking towards the fiscal cliff negotiations. they have said, threw down the gauntlet, we're going to be here. the global u.s., the economy is of the fed, by the fed, for the fed. we have now $65 trillion worth of global assets tied up at zero interest economies. what's that doing for economies? they are looking for yield, junk bond issuance at its highest level ever by allotted, so...
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Dec 11, 2012
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we'll hear from former treasury secretary altman and jeff greenfield. bill? >> stocks are trading off the highs of the day with less than an hour to go. final hour, really from the get-go. optimism about the cliff talks and senator harry reid made some comments this afternoon that put a damper on that real. we've lost about 30 points. in that time. up 74 on the dow at 13,244. the nasdaq is doing well today, up 32 points. more than a 1% gain, although it is off its highs of the day at 3019, and the s&p 500 index is 8 plus points at 1426. the word on the street is because of the fiscal cliff, some investors are actually selling the winners, the winning stocks, and they are holding on to the poor performers, the opposite what have they have been doing the last few years. maria? >> makes a lot of sense given the fact that tax les go higher on capital gains. you want to get out of some of those names. let's find out how you should be investing 20 days away from the deadline. in today's "closing bell" exchange, carol roth with us, rich peterson from is & p, jonatha
we'll hear from former treasury secretary altman and jeff greenfield. bill? >> stocks are trading off the highs of the day with less than an hour to go. final hour, really from the get-go. optimism about the cliff talks and senator harry reid made some comments this afternoon that put a damper on that real. we've lost about 30 points. in that time. up 74 on the dow at 13,244. the nasdaq is doing well today, up 32 points. more than a 1% gain, although it is off its highs of the day at...
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Dec 19, 2012
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. >> that's what makes a market, but that was pretty funny, jeff. thanks so much. merry christmas to you. scott, over to you. >> talk a little numbers and a street fight breaks out. go figure. let's get to mary thompson back with breaking news at hq. mar? >> morgan stanley wealth management is dropping john paulson's advantage and advantage plus funds from its retail broke rang menu. of course, paulson is the hedge fund manager who made a killing during the housing crisis. now in an e-mail sent to morgan stanley's financial advisers yesterday they changed the status of the funds from watch to redeem saying its client should pull the money from these funds. the company citing the fund's weak performance. two umbrella funds for paulissen basically employing a number of his strategies, and they have had a hard part investing in gold where he's not done so well. the advantage fund was down 5% in november, advantage plus down 5.6%. back to you. >> mary, thanks so much. mary thompson for us with the breaking news. face it, we're all getting a little older, but if you act
. >> that's what makes a market, but that was pretty funny, jeff. thanks so much. merry christmas to you. scott, over to you. >> talk a little numbers and a street fight breaks out. go figure. let's get to mary thompson back with breaking news at hq. mar? >> morgan stanley wealth management is dropping john paulson's advantage and advantage plus funds from its retail broke rang menu. of course, paulson is the hedge fund manager who made a killing during the housing crisis. now...
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Dec 20, 2012
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jeff, make the case. you're looking at the charts. how do you like ups versus fedex? >> maria, i think you have to look at the longer-term chart, and if you look at the ten-year period, the true leader is federal express. it's up 76% versus the 24% that ups is. that's where you find the leaders. now let's take a closer look and look at the micro view of this chart, and we go to the year to date chart, and if you see a year to date, trading within a range, between 84 and 94, and what's going tonight difference. what's going tonight difference to push this to go higher, the catalyst, right. we wanted to see it go above $94 a share and the catalyst is going tonight international markets. we've seen some clarity over there, and you've seen a really -- fedex's international numbers have to increase, and that's the catalyst right there. >> jeff, they are both international. it depends on where you want to play. i like ups better because it's got a 3% yield versus a less than 1%. i think about half a percent yelled for fedex and still in a low return environment. if you look
jeff, make the case. you're looking at the charts. how do you like ups versus fedex? >> maria, i think you have to look at the longer-term chart, and if you look at the ten-year period, the true leader is federal express. it's up 76% versus the 24% that ups is. that's where you find the leaders. now let's take a closer look and look at the micro view of this chart, and we go to the year to date chart, and if you see a year to date, trading within a range, between 84 and 94, and what's...
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Dec 6, 2012
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jeff cox, the market is still waiting on the fiscal cliff. they're still sort of held accountable for that right now. yet, the investors' sentiment numbers are the highest in a while. what do you make of that? >> this isn't just the most hated stock market rally ever as some have suggested. this might be the most hated stock market ever. let's just talk about some quick numbers. market trading volume down 19% this year. we've seen $125 billion come out of equity based mutual funds. $300 billion go into bond funds. really, no appetite for getting into this market in terms of the volume. why? i think there's a general distrust of the markets. fiscal cliff and all of the other stuff. great story on the front page of wall street journal today talking about portfolio pumping. another example of investors thinking they're not getting a fair shake out of the stock market. >> larry, you call that complacency, don't you? >> that's right. i'm actually shocked that these investors appear to be asleep at the switch in light of the fiscal fiasco looming i
jeff cox, the market is still waiting on the fiscal cliff. they're still sort of held accountable for that right now. yet, the investors' sentiment numbers are the highest in a while. what do you make of that? >> this isn't just the most hated stock market rally ever as some have suggested. this might be the most hated stock market ever. let's just talk about some quick numbers. market trading volume down 19% this year. we've seen $125 billion come out of equity based mutual funds. $300...
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Dec 18, 2012
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>> joining us right now to weigh in on cnbc contribute richard bernstein and jeff tanose of jpmorgan and our own bob pisani. gentlemen, thanks for joining us. rich, what do you think about fundamentals going into 2013, corporate sector, economics? >> i'm actually quite bullish about 2013. i think we're going to start getting, as the year goes on, easier comparisons for corporate profits. the corporate sector as we know is loaded for cash. i think when we get beyond this uncertainty and corporations have more certainty, i think we're going to see an m & a wave because they have underinvestmented for the future by hoarding all the cash so i think they will have to buy growth so i think 2013 could be a very good career. >> what do you think, joe? >> i agree. everything we've been dealing with the past year has been the uncertainty. is it europe, the election? is it the fiscal cliff, but as you go through those one by one, the election is now behind us. i do believe we'll have a resolution on the fiscal cliff and if you look at europe, the ecb put a gigantic band-aid on this so next year
>> joining us right now to weigh in on cnbc contribute richard bernstein and jeff tanose of jpmorgan and our own bob pisani. gentlemen, thanks for joining us. rich, what do you think about fundamentals going into 2013, corporate sector, economics? >> i'm actually quite bullish about 2013. i think we're going to start getting, as the year goes on, easier comparisons for corporate profits. the corporate sector as we know is loaded for cash. i think when we get beyond this uncertainty...
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Dec 26, 2012
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. >> well, jeff, yes, i'll concede its most recent quarter was not profitable, but it's been a profitable company. not nearly as much as a lot of folks would see and there's a reason. they have been taking market share and doing it in the cloud. use the cloud streaming services of amazon which is indicative of what an important player amazon is becoming in that field as well. it's an expensive stock. you're paying an astronomical p and still a dominant player in e-commerce and one of the new areas where it's dominant is the iphone this year. >> two companies we've been following very closely this year. thanks for joining us on "talking numbers." see you later. happy holidays. mandy? >> a quick look at what's happening with the markets right now. the do you is just hitting flat with the down side barely moving at this point. of course, we're counting down to the bell. also got aetna's ceo who says his hiring plans for the new year will definitely be affected by the fiscal cliff, and get this, he also says health care costs could double for some groups by 2014 due to obama care. we've got a
. >> well, jeff, yes, i'll concede its most recent quarter was not profitable, but it's been a profitable company. not nearly as much as a lot of folks would see and there's a reason. they have been taking market share and doing it in the cloud. use the cloud streaming services of amazon which is indicative of what an important player amazon is becoming in that field as well. it's an expensive stock. you're paying an astronomical p and still a dominant player in e-commerce and one of the...
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Dec 19, 2012
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jeff, great to talk with you. >> thank you. >> thank you for your time today. jeff jordan. >>> after the break, my observation on why we don't have a deal in washington yet and how we might be able to get there. stay with us. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. he's going to apply testosterone to his underarm. axiron, the only underarm treatment for low t, can restore testosterone levels back to normal in most men. axiron is not for use in women or anyone younger than 18. axiron can transfer to others through direct contact. women, especially those who are or who may become pregnant, and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these signs and symptoms to yo
jeff, great to talk with you. >> thank you. >> thank you for your time today. jeff jordan. >>> after the break, my observation on why we don't have a deal in washington yet and how we might be able to get there. stay with us. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever...
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Dec 26, 2012
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that's when you could see it approach $20 a share. >> what are your banking picks, jeff? who do you like? >> i think over time b of a works but for new money being brought in i'd rather look at citigroup where you haven't had quite the run but have the capital return and the international story and like the capital market numbers, too, morgan stanley or goldman sachs, if we can get any relief, a lot of activity in the markets and those stocks could do well. >> we are tracking euclid, this powerful pinter storm. could inflict some major damage. we'll check in with our friends at the weather channel coming up next. >>> plus, a wear of retail analysts weigh in on the storm's impact of retail's bottom line. >>> and a little bit later on former pennsylvania governor ed rendell is going to be showing us to find out what the co-chair of the fix the debt commission has to say now that we're just five days from going over. >>> and before hitting the break, here's a message from the head of a pennsylvania company to our nation's lawmakers in washington. >>> my name is richard phill
that's when you could see it approach $20 a share. >> what are your banking picks, jeff? who do you like? >> i think over time b of a works but for new money being brought in i'd rather look at citigroup where you haven't had quite the run but have the capital return and the international story and like the capital market numbers, too, morgan stanley or goldman sachs, if we can get any relief, a lot of activity in the markets and those stocks could do well. >> we are tracking...
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Dec 20, 2012
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let's talk to jeff flock, huge midwestern storm. do you see it yet? what is it going to prices? >> raining like heck out there. why do traders love a snowstorm? look at the map? there is volatility in the markets. all through the midwest, a foot or more portions of the upper midwest and look at what that has done, if you bought natural-gas futures and getting beaten down last couple weeks you can pay off 3% for natural gas, not only is there going to be snow but a lot of coal heading for heating oil up 1%, so good news there as well. here is the thing about the snow and precipitation. that is a drought mitigating. huge sell-off, corn, beans and wheat all down, down $7 a bushel, 1% down $0.07, beans were down $0.30 down almost $14 a bushel and the first time since may under a dollars a bushel down 2%, $0.16. traders love today, look at blood mess behind me. was a good day. [talking over each other] liz: i have been there. thank you very much. you saw that storm barreling down. can't blame this on the alberta clipper this time. don't blame the canadiens for everything. we heard fr
let's talk to jeff flock, huge midwestern storm. do you see it yet? what is it going to prices? >> raining like heck out there. why do traders love a snowstorm? look at the map? there is volatility in the markets. all through the midwest, a foot or more portions of the upper midwest and look at what that has done, if you bought natural-gas futures and getting beaten down last couple weeks you can pay off 3% for natural gas, not only is there going to be snow but a lot of coal heading for...
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Dec 21, 2012
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jeff, how can this market rally when there's still so much uncertainty out there? >> i am surprised the market held up as well as it did today, maria. it had every reason to be down four or 500 points. historically, the week after christmas it's up about 70% of the time with a little over a percent gain. and i think you're going to see that after tax selling gets over as of today. and in terms of the selling that we are seeing already, do you think it's partly because people are expecting capital gains and dividend taxes to go up regardless? >> yeah, i think that's right. there's still a chance for a solution to the fiscal cliff. washington tends to work on a last-minute basis. the fact that the republicans couldn't even get together and chose some kind of solidarity even though they knew the plan b wouldn't go through is disturbing. >> dean mackey, how do you see 2013? >> the positive thing right now sthot consumer spending was picking up in the fourth quarter. that was the message of today's data. business spending is also picking up. the problem, though, is that
jeff, how can this market rally when there's still so much uncertainty out there? >> i am surprised the market held up as well as it did today, maria. it had every reason to be down four or 500 points. historically, the week after christmas it's up about 70% of the time with a little over a percent gain. and i think you're going to see that after tax selling gets over as of today. and in terms of the selling that we are seeing already, do you think it's partly because people are expecting...
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Dec 10, 2012
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we also have jeff flock. unbelievable because every one of my kids class are dying to get these things. they have a motorcycle version, sparkle glitter version. the sales are not what they're cracked up to be. nicole: the ssquence version. uggs are incredibly popular, but a lot of other boots and brands on the market plus that coupled with the competition and the fact you don't have a big heavy winter as some had hoped especially those who own deckers. last week there was mergers and acquisitions chatter whether or not one of the companies would step in and be looking at deckers. today is a different story. they're getting ready to mark down the booos, the popular ugg% boots from children to grown-up adults, that is not good news. they start marching down key items ahead of the holidays already, that will not be good. down 7.5%. liz: i heard there was snow in deer valley. what are you looking at? >> no snow in chicago fortunately. the two big movers. copper and coffee. copper moving up about 8% on industrial
we also have jeff flock. unbelievable because every one of my kids class are dying to get these things. they have a motorcycle version, sparkle glitter version. the sales are not what they're cracked up to be. nicole: the ssquence version. uggs are incredibly popular, but a lot of other boots and brands on the market plus that coupled with the competition and the fact you don't have a big heavy winter as some had hoped especially those who own deckers. last week there was mergers and...
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Dec 17, 2012
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. >> and jeff cleveland, let me ask you the same question in terms of allocating capital and your expectations for the new year. >> i think i agree that the economy doesn't fundamentally change at midnight on 12:31. so we're not worried about a recession. what we are worried about is people expect a deal to get done and they think we'll have a surge of economic growth. and we don't expect that either. growth will remain moderate. interest rates remain low. and the real big picture is a shortage of safe assets. there's only so many government bonds out there keeping slemts low. we like the ig credit so sector and we like high yield bopds. that's where you'll see your opportunities for income for the year. >> okay. so are you going to be doing -- are you going to be doing dividend payers? >> i think you look anywhere you can get income. dividends are good. the key here is what's the big picture and story. it's a shortage of safe assets. the fed and all of their actions in the last ten days have just exacerbated those safe assets by removing some from the system. other things hitting at the syste
. >> and jeff cleveland, let me ask you the same question in terms of allocating capital and your expectations for the new year. >> i think i agree that the economy doesn't fundamentally change at midnight on 12:31. so we're not worried about a recession. what we are worried about is people expect a deal to get done and they think we'll have a surge of economic growth. and we don't expect that either. growth will remain moderate. interest rates remain low. and the real big picture...
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Dec 10, 2012
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jeff just said i think it was over the weekend that so many of their customers are clenched right now. that they're just waiting to see what the resolution of the fiscal cliff is that they're holding back on orders. is that the case with some of your clients as well? >> well, i think right now we haven't received the clarity of the election we were hoping for. i think both sides republicans and democrats are basically negotiating behind closed doors. hopefully i think the news over the weekend was a lot better than it had been. moving a little bit. senator corker moving as well. we had better data out of china last week. household net worth increased by $1.7 trillion which was a big number for the fed. it says the bernanke policies are working. in terms of clients what they're doing, obviously there's a lot of clouds on the horizon short-term. but longer term, it's positive. so right now towards the end of the year what we've been seeing is a lot of accounts looking to take out short positions and stocks that have been hef sli shorted. so you've seen stocks like sears holdings, jcpenn
jeff just said i think it was over the weekend that so many of their customers are clenched right now. that they're just waiting to see what the resolution of the fiscal cliff is that they're holding back on orders. is that the case with some of your clients as well? >> well, i think right now we haven't received the clarity of the election we were hoping for. i think both sides republicans and democrats are basically negotiating behind closed doors. hopefully i think the news over the...